Palm cash loan app will give you instant loan without collateral or paper work, you can obtain this loan with your phone so you don’t need to visit any location.
Their loan processing is easy and fast within one hour of submitting application, your loan will be disburse. With this loan app you can obtain up to #100,000 loan at a go.
Requirement to obtain palm cash loan app
To obtain loan form this app you need to meet up with their requirements, which are
Have bvn and bank account
Have good credit score
Have regular source of income
Have smart phone with which to download the app
Be above 18 years of age
Once you meet up with this requirements you can proceed to apply for the loan
How to apply for palmcash loan app
The first step to take is to head over to play store and download the loan app
Register with your name, bvn and other details
You will be ask to bind your ATM card which might attract #30 fee, do so and proceed
Once you are done with registration you will be login to your account
On your dashboard locate and click on loan
There you will see amount of loan you are eligible to obtain
Click it and wait for disbursement
How much to obtain form palmcash loan app
Palm cash loan app is still new, the maximum loan you can obtain from this loan app is #100,000.
If you are applying for the first time your eligible loan will not be up to this but as you continue to use the app your eligible loan will increase.
Palm Cash loan interest rate and repayment period
Their interest rate is between 5% to 10% per month, this depend on the amount of loan secure and the repayment period. The repayment period is between 7 days to 90 days also depend on the amount of loan secure.
If you are applying for the first time your loan interest rate will be short and the repayment will be short. As you continue to use the app this will improve.
Paying black your palm cash loan
To payback your loan head over to your dashboard
Click on loan repayment
There you will see deferent option to pay back your loan
Click on one and make payment
Once you make payment it will reflect on your dashboard
If it does not you should contact them.
What will happen if I default or refuse to pay back
If you default you will be punish by Increase in your loan Interest rate which might be up to 2%.
If you abscond, your name and bvn will be send to credit bureau for blacklisting which means you will not be able to obtain loan again in Nigeria until you pay back and clear your name with credit bureau.
Is palm cash loan app legit
Yes palmcash loan app is legit, if it is to give loan, they will surely give you loan, but they are not approved by CBN.
Our final verdict on palm cash loan app
Palm cash loan app is legit, they will surely give you loan. They have given loan to many people in Nigeria, their loan processing is fast and they don’t charge loan processing fee.
The only problem is that they are not license by CBN. Exercise caution when dealing with this loan app. Only take loan that you can pay back.
Above is how to who to apply for palm cash loan app. As stated above they will surely give you loan but that doesn’t mean you should obtain loan that is more than your capability.
Try to avoid embarrassment and had I know.
Do you like this article
Feel free to share it